It's All About the Benjamins

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J. Crew shares up after Obamas don its clothing

FROM THE ASSOCIATED PRESS
WASHINGTON—- Shares of J. Crew Group Inc. jumped Wednesday after news spread that many items worn by the first family during this week’s inauguration events were from the national retailer.

President Barack Obama wore a white satin bow tie to all the Inaugural Balls Tuesday night. First lady Michelle Obama wore J. Crew gloves, a sweater and skirt from the company to different events. And daughters Malia and Sasha wore coats, dresses and other items from the retailer to various occasions celebrating their father’s inauguration.

While the items were made specifically for the Obamas, J. Crew said customers can see highlights or similar items in upcoming seasons.

“We are thrilled to be a part of this historic event,” Frank Muytjens, vice president of men’s design at J. Crew, said in a statement.

Shares of J. Crew jumped 96 cents, more than 10 percent, in trading Wednesday to close at $9.99.

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In related news Conrad Magazine reports that Obama’s approval ratings among moderately–classy 18-25 year olds who wear khaki pants and are also named Ben Lamb just jumped to 100%.